Technology & Startups

As a part of his $350 million commitment to Downtown Project, Tony Hsieh invested a portion of the $50 million tech allocation in VegasTechFund, a separate venture fund launched in parallel to Downtown Project. Its initial focus was seeding and accelerating the growth of the startup ecosystem in downtown Las Vegas.

In its first two years VegasTechFund deployed more seed stage venture capital in Las Vegas that any other firm in Nevada history. According to CB Insights, the firm is still the most active venture capital firm in Nevada, although its focus broadened starting in 2014.

As the firm grew to include a broader set of limited partners, the firm’s investment criteria expanded to include companies based across the United States. And today about 15 percent of its portfolio companies are based in Las Vegas.

The firm, now known as VTF Capital, focuses primarily on companies in the commerce and commerce-related space with about 15 percent of its portfolio companies based in Las Vegas.

Among VTF Capital’s Las Vegas investments is The Mill, an accelerator based in downtown Las Vegas. The Mill Startup Accelerator helps seed-stage companies focused on developing an exceptional customer service culture.